[p2p-research] Chavez devalues currency...

[Michel Bauwens]

well, it is indeed surprising that chavez is following in the U.S.
footsteps, who have a consistent history of lowering the value of the dollar
in their interest ...

I agree that it is a dangerous strategy, and without structural reforms, it
just hides deeper problems, but it is advantageous for those with debt
burdens

interesting in chavez case is its coupling with structural reform .. but I'm
indeed worried it is an easy way out leading to further problems down the
road, as it did for the U.S.

On Sat, Jan 9, 2010 at 10:27 PM, Ryan Lanham <rlanham1963 at gmail.com> wrote:

>
> http://www.washingtonpost.com/wp-dyn/content/article/2010/01/08/AR2010010803742.html
>
> Interesting strategy...pushing inflation up.  Inflation always destroys
> wealth.  He is attempting, it seems, to restructure the economy from the
> bottom with local production driving low cost exports.  Hard to imagine it
> will work.  Never has before.
>
> --
> Ryan
>
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